Skip to main content

tv   Real Money With Ali Velshi  Al Jazeera  December 23, 2014 6:00am-7:01am EST

6:00 am
>> was it karma or the nsa? someone or something has just taken down the internet in kim jung un's north korea after a threat to an aisle ate the united states. the price of oil keeps plunging. not everyone in america will see a big savings on their heating bill. when professional athletes become agent visits, league sponsors get nervous. a top agent will reveal where
6:01 am
the line is. i am ali velshi and this is "real money." ♪ >> this appears to be another twist in the holiday drama starring sony pictures, the obama administration and kim jung unt the outages began late friday, got worse over the weekend and became a massive system-wide collapse throughout north korea today. theregime stands accused of stacking sony. the white house is refusing to say if the u.s. government is responsible. stay tuned. earlier today, in the wage of the pledges by president obama that the united states would launch a proportional
6:02 am
response, the north korean regime issued a response, our toughest counter action will be boldly taken against the white house and pentagon and the whole u.s. mainland, the cess pool by far surpassing the counter action declared by obama. the bluster about an aisleating the entire united states comes days after hackers went to north korea, threatened 9-11 style attacks against any u.s. theatre showing the movie "the interview," a comedy that features the assassination of king jung un. it prompted sony to cancel the movie. the united states is used to north korea's verbal threats over his nuclear weapons aspirations. six years ago, as part of the incentive to get north korea to disclose more, the bush administration removed north korea from the state department list of countries that sponsor terrorism. now, president obama is
6:03 am
considering putting north korea e back on the list with countries like iran t syria and cuba. being on the list triggers sanctions that limit u.s. aid defense exports and certain financial transactions. to meet the criteria, the state department has to determine a country has reportedly supported acts of international terrorism. >> usually means violent physical attacks rather than hacking. still, putting north korea on the terror list is just one of many options the obama administration has reportedly been considering. let's dig deeper into north korea's hacking infrastructure and what to expect should tensions between the united states and north korea continue to intensify. for that, we turn to cathy moon, senior fellow at the brookings institution for east asia policy studies. how sophisticated is north korea's internet infrastructure and what is their ability to create hackers? >> the north koreans have quite a sophisticated infrastructure
6:04 am
in terms of human resources, human skills as well as the technological know-how. they have a large number amounting to about 5,000 to 6,000 people who are trained in cyber technology, especially in attacks and other kinds of psychological operations. the best of them are sent to russia and china to be trained in advanced work, and so, they do have the capacity. the question is whether they have the kind of reach and sophistication that was able to bring down a system as large as the sony attack, which took 100 terrabytes 6 information out of public. >> now, if the obama administration is looking at a range of options for going after those five or 6,000 who might have the know-how and the skills, can you envision what that kind of u.s. counter attack might look like? >> the u.s. has to be very careful because as much as the
6:05 am
f.b.i. and other intelligence agencies in the u.s. are quite sure that the north koreans have done it, there are also independent cyber security companies, and other cyber followers, technological followers, who believe that this may not have been in the capacity of the north koreans. so until and unless we are almost positively sure it's, it's very, very dangerous to go taking on retaliatory measures. most of the north korean attacks, cyber attacks, are run out of china, through china. north korea's infrastructure within the country does not have the capacity to access the kind of sophisticated hardware and software that's required to do the kind of attacks like the one on sony. so, we know that unit 121, the main unit of the cyber work out of north korea has been based in
6:06 am
china in shin yung. so, if the chinese know about this and have leverage over the north koreans, that is one tract that the u.s. must take. >> if the united states is certain, though, that this originated from north korea, perhaps with chinese help, does the kind of counterattack that the obama administration might envision including that sort of chinesebation but are the specific things that the administration can do without actually harming the majority of the north korean people? >> well, that's a very good question in terms of safe guarding the wellbeing and the rights of the north korean people and their ability, also, those who are very adventuresom and curious about the outside world to access the outside world through spillover or elicit signals that they may be able to get from the existing infrastructure. so we don't want to harm their curiosity or prevent that curiosity. people talk about putting north
6:07 am
korea back on the terror list. i think right now, it's premature to do that because there are various definitions of cyber terrorism according to international norms, and we would have to legally be able to state that north korea's attack, if it's north korea, actually meet those norms. also, it took a long time to get north korea off of the terror track or terror list. so, i am not so sure we want to go backwards in a relationship that's already pretty bad. i think we need to stay positive about this and figure out what constructive ways that we can go, ways to use to go forward, and if we are going to retaliate against the north koreans in some, quote, proportional way, we need to keep in mind, this attack as part of all of the other attacks that have been happening not only to the united states, south korea, it's ally and other friendly countries.
6:08 am
china and russia are the two major hackers who have been able to access the u.s. government and u.s. corporations. and so whatever action the u.s. takes, we need to make sure we are fair and that we are proportional not only in terms of the attack on the u.s. companies but, also, proportional in relation to other countries who have been perpetrating these acts of illegal cyber activity. >> the north korean government has threatened to an aisle ate the pentagon, the white house, much of the u.s. homeland if there is, in fact, some sort of retaliation by the obama administration. how seriously should we take that rhetoric >> if i were part of the administration, i would read it symbolically as they are upset but they are also very scared. i just learned that not a long ago today, the north korean internet system has been shut
6:09 am
down or severely disrupted, and one question is: has the u.s. already targeted them, or have the north koreans prehe wouldn't any kind of retaliatory attack by shutting itself down or freelancers or any other source that we might be able to think of? but what's important is that they are more scared of the united states than we are of them, obviously. their cyber technology pales in comparison to what the u.s. can do. i think we need to be cautious. we need to make sure we have all of our facts and that we take seriously north korea's concern and fears and its capabilities but at the same time not overreact. >> catherine moon, a senior fellow at the brookings institution. thank you for coming on the program. we appreciate it? >> thank you very much. >> oil prices plummeting. >> that's good news for drivers on the road here at home and bad
6:10 am
news for those relying on oil to prop up their economies. sladz mirror pickup truck's russia. what is saudi arabia doing about this crude awakening? why? >> where things get really interesting. we are back in two minutes. >> al jazeera america presents >> somebody's telling lies... >> it looks nothing like him... >> pan am flight 103 explodes december 21st, 1988 was the right man convicted? >> so many people, at such a high level, had the stake in al-megrahi's guilt >> the most definitive look at this shocking crime >> the major difficulty for the prosecution that there was no evidence >> al jazeera america presents lockerbie part two: case closed
6:11 am
>> today on "the stream". >> unlocking medical mysteries
6:12 am
in cuba. how a more open island could mean more access to breakthrough treatments and even impact how we approach healthcare. >> "the stream". today 12:30 eastern. on al jazeera america. ♪ >> if there is a commodity stealing headline this year, it is oil. since june, the price of u.s. crude has fallen more than 48% to a sentenced price a settled price. opec decided to keep spiggots open rather than cut production. now their most powerful member, saudi arabia says it intends to stay the course, which is good news for americans filling up at the pump. in an interview with the saudi oil minister, they said opec has no plans to cut production even if prices fall as low as $20 a barrel. that was a topic of discussion at a in abu dhabi. >> reporter: petroleum ministers
6:13 am
and economists from all over the middle east in north africa gathered at a time when oil prices have taken a dive hitting their national budget did hard. saudi arabia and the united arab emirates say they are confident the market will stabilize soon. other energy ministers say help. >> there is a lot of surplus in the market. sop, therefore, the supply is much, much greater than the demand. so, i think that approach by opec is a very wise one. >> exporters represent around 40% of the world's oil production. saudi and the united arab ministers have blamed producers outside the bloc for the slump saying they lack coordination and are acting ires responsibly. neither specified who they think is most
6:14 am
efficient. >> when you reduce your income, it will affect the -- this is the negative side of it. but the positive side of it is that we are reducing a lot of unnecessary costs. >> reporter: another positive that they have started exporting from kirkuk following an agreement with the kurdish regional government. >> so kirkuk is functioning once again. >> reporter: not everyone is suffering from the cut in oil prices. jordan said it's saving millions because diesel and oil is cheaper to import. >> we saved, i think, for the last four million. gain. it's worried the long-term foreign investment in his
6:15 am
country by big oil producers like saudi and the united arab emirates may be affected. it's the long-term hard to predict. economists are saying it could take months for prices to recover. erica woods, al jazeera, ab abu dhabi. >> saudi arabia's strategy is having repercussions. olympic members like venzuela and iran need oil to trade above $100 a barrel to funneled their budget did, or they face severe cash shortfalls. the same goes for russia, which is not a member of opec. mez are dividing why the saudis will be content to left oil will be content to left oil prices fall. saying they may be using it as a political weapon to affect pain opinion it's rivals. others are adamant that they are letting prices drop for purely economic reasons to protect its market share and to possibly und undercutthe newest players on
6:16 am
producers. patricia sabga splays. >> driving down prices to defend market share, a saudi arabian strategy aimed skrarl at american shale producers says the baker institute's jim crane. >> the saudis would like to see what happens in north america and in the shale plays in u.s. and canada when you have an environment of low prize. are these guys able to sweat it out and tough it out, or does production fall off? >> reporter: as the world's largest oil exporter and opec's swing producer, saudi arabia can sway prices by reining in prices to push more crude on to the market. the historic pricing power is under threat by american shale oil producers who have been flooding the market with new supplies at a time when global demand is easing. >> thanks to shale, the united states is poised today usurp
6:17 am
saudi arabia's crown as the world's largest oil producer. the kingdom has an edge to control global oil markets, namely, the ability to extract crude more cheaply than the shale rivals. >> finding and ex tracting oil averages roughly $31 in the united states versus around 17 in the middle east. with u.s. benchmark crude falling some 48% since june, american shale producers sprang up in an era of high prices are feeling the squeeze. >> i think the saudis would like to show these folks that, you know, prices can go up, but they can also come down and the drastically. >> the global benchmark oil is trading below what the saudis need to meet their budget commitments next year, the kingdom's considerable cash reserves give it plenty of cushion to comfortably draw a line in the shale. atricia sabga, al jazeera.
6:18 am
>> saudi arabia and other rich oil-producing members of o peck can tax the fortitude. they are willing to draw down on hundreds of billions of dollars to defend their market share. >> that's according to steve lavine who covers energy. he joins us from washington. steve, as far as the u.s. fracking producers, how much of this can they afford to take? what's the bottom line price in terms of per barrel when fracking really starts to say uncle? >> it really depends on which producer you are talking about and which area. i really think that there is a lot more flexibility than people think. the cost, the cost of these drillers to produce their oil is going to drop the salary demands of the drillers, themselves. >> will go down. the amount that rig owners are changing, their day rates, that
6:19 am
will go down. so this is a flexible item on the ledger there. and i also think that they will pull back from the marginal parts of the fields that they have been drilling, drilling more in the sweet spots. >> will mean that they will be able to spend more -- spend less money and be able to earn more money. so, i think they are going to try to sweat it out. and i think that they can sweat it out for quite some time. these quotes that we heard today from the saudi arabian oil minister, this is a declaration of war. this is a different understanding of what saudi arabia was up to until what we understood today. >> it sounds like the saudis are marking it clear that they believe there is a certain point at which they can really inflict pain on u.s. domestic oil producers and fraccers. you are saying there is a certain flexibility that the u.s. producers have that maybe
6:20 am
the saudis are miss calculating on. >> they -- i am sure that they understand this, that they will have to, if they want to have a strategy of sweating out u.s. shale drillers -- and incidentally, they are not just trying to sweat them out. they are trying to sweat out brazil, canada, canadian oil sands, who they are calling high-cost drillers around the world. they want to the return to very much a central role, but they are going to have to wait a long time, more than one year, maybe two years. incidentally with, other people who are going to be hurt by this are oil companies. we are not just talking about countries that have high break-even costs. companies from exxon to shale to the mid-range players, if we have long-range prices of the level that the oil minister was
6:21 am
talking about today, they could really suffer. you could see some bankruptcies in the oil patch. >> what's the level at which you start to see those bankruptcies? after the fact, there is oil for $20 a barely, as are as he was talking about. does that put some u.s. energy companies out of business? >> again, it depends how long. if you are talking about 18 months, two years, yes. they would cry uncle before. they would see buyers. so you would see mergers. you would see fire sales, acquisitions of some of these players. already, you had some of the bigger players last year borrowing money to pay for their -- for all of their expenses, capex, buy backs and dividends. if they were having to do that to dig in to borrow money on the street to do that, next year is going to be no picnic for them.
6:22 am
i think, you know, right now, today, we had $55 a barely for wti. when you start getting down in to the 40s, you are going to see some hurt. >> you may see some hurt, but you also might see some celebrations among the american consumer. i can hear some of them saying, fine, if some. bill oiling companies have to go out of business because we can get billions and bill you don't know of dollars in our pockets as opposed to going to them, that's fine. >> our economy, the u.s. economy is going to go gangbusters next year. gasoline prices, they could be well into, you know, below $2. incidentally, just again going in to where the rubble is going to be, the blood on the floor in terms of calculation/miss calculations, saudi arabia, itself, is sitting fine. it has $750,000,000,000 of reserves. qatar, kuwait, the uae. after that, everyone is going to be hurt.
6:23 am
i just wonder when saudi arabia speaks with great bravery, with great courage, we are prepared to sit this out. is it prepared for everyone else to basically fall apart? >> indeed, falling apart while the u.s. consumers celebrate, $2 a gallon for gas. it would have a huge impact on the u.s. economy. steve levine, thanks for joining us. we appreciate it. >> thank you. >> up next, something is not right in new england, energy prices haven't been this,000 cheap in years. why are people from connecticut to maine paying more to stay warm? that when "real money" continues.
6:24 am
6:25 am
healthy consumers are saving on
6:26 am
gasoline and home heating oil. natural gas prices today fell 9% to a two-year low. production. the forecasters are saying. new england. at least six states, the cost of staying warm has actually been rising. explaining why. now, puente is one of millions of americans who heat with natural gas. >> i used to heat with oil. >> she was drawn to natural gas. while newly released information reflects heating bills will drop by as much as $800 this went ir. the reason, distribution. in the northeast.
6:27 am
most are in pennsylvania and del aware. by the time you get to new england, there is a thinning. >> is being blamed on price electricity. >> the highest bill as far as i can remember was 285. >> this year, households in the northeast will likely pay more for natural gas. prices are expected to rise nearly 7%. more people turn up. adding to the shortage, increased demand by the power plant. it turns out they need it as much as nadia. to understand the impact power plants have on the region's demand, consider this. in 2000, 40% of electricity was out of coal or oil.
6:28 am
today, that figure is less than 7%. natural gas by contrast is used to generate nearly half of all of the energy connnounced in the six-state region. an turtleneck george is an executive. the organization administers the market. billions of dollars of energy are bought and sold here every year. it's like a stock exchange for electricity. right now, one of the driving forces behind all of those fl k flickering lights is gas. >> it's correlated to the price of the fuel. he electricity follows the highs and lows of natural gas. >> that means people who heat their homes with electricity are experiencing higher prices because of a lack of pipeline capacity. lawmakers and developers are considering plans to build more pipelines. while that may lower prices time? >> environmental and social justice groups say the region should look to alternative forms of energy by hydro and solar power even if it means higher
6:29 am
prices in the short-term. >> energy efficiency and renewable resources have to be fronts and center in our resource mix long-term. >> the goal, they say, is to reduce reliance on a single energy source and to let'sen the environmental impact. switching to gas after all was supposed to offer big savings. bill market forces are england. >> thank god i have a job. i try to do my best to keep up. >> al jazeera. >> the price of oil and natural gas has dropped in this year. one economist says energy in the u.s.a. is becoming unaffordable for more and more americans and not just for people in new england. according to roger colton, this year, americans will be charged $39,000,000,000 than they can pay for heat and electricity. roger from boston where he leaves leads an economic consulting company. how did you come up with that $39 billion figure? >> there are certain attributes that can be associated with a
6:30 am
household's home energy bill. the size of the household, the size of the housing unit, the location of the housing unit, so we have developed a mathematical model that relates all of those so that we can on a county by county basis for the entire country determine what home energy bills are and the extent to which those bills exceed affordable bills. >> the extent to which they do exceed affordable bills, what's the broadest impact on the overall u.s. economy? >> unaffordable home energy bills represent a drag on the economy as a whole. there is a variety of reasons for that. one is that when people are having financial difficulties at home, it is difficult for those individuals to be good workers. they are less productive when they are at work. they miss more time.
6:31 am
and the people, the firms and companies that use those workers suffer as a result. in addition, however, there are costs that unaffordable home energy impose on the economy as a whole. for example, unaffordable home energy creates healthcare costs that the economy as a whole has to pick up. and those increased costs which are unnecessary and affovoidable really concentrate a drag on the economy as a whole. >> as we saw in the report, there is a significant need for gas pipeline infrastructure in the northeast. that would have a significant cost, but it would also ab significant cost if, in fact, there was an effort to try to move toward alternative energy like solar. who should pay for it all? >> well, there are going to be increased costs in the future. there is simply no way to avoid those increased costs, whether
6:32 am
we are moving towards an increase in renewable energy such as solar energy, whether we are repairing and expanding our infrastructure, rate payers, households, individuals, are going to pay those increased costs. all residential, all commercial, all customers are going to pay those increased costs. >> how about a sliding scale, as you have advocated, in terms after sliding scale for how much people are charged for their utilities? >> when we work with utility did, when i work with utilities, i explain to them that there is a group of people in the united states who simply cannot afford to pay their home energy bills today, and unfortunately, that group of people is getting bigger and bigger. ten years ago or 15 years ago, that group of people may have been limited to low-income house homicide in particular, but more
6:33 am
and more, the folks who cannot afford to pay their home energy bills are moving into the middle class. when that happens , the utilities suffer. it is ineffective and inefficient to bill somebody a big they cannot afford to pay. you can send the bill but people won't pay it. utilities therefore end up lacking the revenue they need to, to continue to provide adequate service. >> is there another part of the country other than new england where the cost exceeds the ability of a lot of consumers to pay for it? >> yes. we tend to think of new england as being an area where
6:34 am
significant home energy, unaffordability because of the price of fuel oil, because of the cost of home heating, bu really, in fact, electricity is a bigger portion of household bills, and when we look around the country, we find that there are areas such as the south atlantic region from maryland, virginia on down the east coast, the deep south, where there are oiled and inefficient homes, where there are bigger families where there are significantly higher unaffordability problems in those regions of the country than even in new england. it is not simply a home heating problem. it is not simply a new england problem. it is a problem in all regions of the country. >> roger colton, an economist and energy affordability he can't expert. thank you for coming on our program. we appreciate it. coming up, sloppy accounting
6:35 am
prices led one country to wrongly foreclose on homeowners. now, the company is paying the price. we will tell you how one state ♪ >> consider this: the news of the day plus so much more. >> we begin with the growing controversy. >> answers to the questions no one else will ask. >> real perspective, consider this on al jazeera america
6:36 am
6:37 am
there was a frey round of scrutiny on the mortgage industry and it centers on one company in particular: it's called oquinn financial. chances are you have probably never heard of it but it has sky robert and become one of the largest mortgage in the country. today, it was announced what forced the chairman to step down. misconduct and improper foreclosures conflicts of interest. larry snow has more on what the company does and the kind of complaints filed by customers. >> this was our payment history. >> like most people, mary ann and richard williams had never heard of oquinn financial. >> changed when bank of america transferred their mortgage to oquinn after the couple emerged from bankruptcy in 2011. >> we thought we were transitioning from one company to another and, you know, they sell mortgages, so we just figured we would pay them.
6:38 am
>> it wasn't so simple. oquinn said the records it received showed the couple had fallen behind on payments years earlier. the williams said it was a mistake and tried to fix it repeatedly with a customer service person over the phone. >> i even said, i said, if we are 17 months behind, tell me what mortgage company would let you just stay in your house and keep accepting your payments? >> what was the answer? >> he blew it off. he didn't even answer. >> he didn't really have an answer. they are just a customer service person. they can't answer. >> oquinn found the williams in material default, started returning monthly payments and moved to foreclose on the home. the couple filed for bankruptcy foreclosure? >> the bankruptcy was the only option. >> this july, a judge in delaware bankruptcy court found sloppy paperwork with the williams not making payments during some months but making payments at other times. the judge did the math. he found that oquinn's claim the williams were in material default was unfounded and
6:39 am
incorrect causing the couple to file a second bankruptcy. oquinn declined comment on the williams' case. the company is not a bank. it specialize ins sub-prime mortgages. it handle did billing, payments and loan modifications n 2013, it agreed to pay $2,000,000,000 in consumer relief as part of a national settlement following the a accusations. one housing attorney said that didn't stop complaints. lisa sitkin works for a non-profit legal serviced a advocacy group in occasion land california representing hundreds of homeowners. she deals regularly with oquinn. >> many of the cases we see that involve oquinn have actually involved accounting errors of one kind or another. those range from billing the person the wrong amount, and then causing them to go into arears because of that. >> it grew after the financial
6:40 am
crisis when banks began selling off parts of the business that serviced loans. in 2009, oquinn handled $50,000,000,000 worth of locations. this year, that number is more than 400 billion. now it's theforth largest mortgage servicer in the u.s. it has been in the crosshairs of new york services regulateo. he found the information technology systems didn't keep pace with the expansion. among other things, he said that borrowers were given outdated letters. he also raised conflict of interest concerns with oquinn and 4 companies, all linked today william irb y. as part of a settlement, he will step down as executive chairman of oquinn and chairman of the board of directors from each of the companies. they will pay $150 million to consumers and an independent monitor will be installed for up to three years.
6:41 am
in a statement the company said, we are pleased to have reached a comprehensive settlement with the dfs and will act promptly to comply with the terms. mary snow, al jazeera. >> drawing out the delinquence see in foreclose process can produce big profits. >> that's a deal cornell university law school professor joins us from ithaca new york. explain to you delays translate into more money for the servicers like oqwen. >> the way it works, when a loan falls into cleanquenc and into arrears, there are additional fees that can be charged by the serviceder for the special difficulties that are thought to accompany a loan that's getting into trouble. so oftentimes -- and i am not saying that oqwen does this intentionally, but it could happen intentionally in this industry. it can sometimes happen that the servicers are actually interested in keeping a homeowner sort of in delinquence see without quite fully
6:42 am
defaulting because the longer you can proceed tract that, the more fees you can garner. >> when the bank sold the mortgage servicing rights to the companies like oqwen weren't some of the faulty foreclose use supposed to be prevented. >> that was part of the idea, the thought was that there were so many loans extended during the bubble period the shear volume overwhelmed the capacity of the baufrpinging institutions to service the locations properly. so the thought was that by offloading some of these servicing ridghts to companies like oqwen that specialized in servicing a loan, that would solve the problem, that companies like oqwen would actually be better at servicing these loans and avoiding the kind of problems that had plagued the banks in view of the volume. what seems to have happened, however, is that the volume appears now even to have overwhelmed oqwen, itself. >> in addition to being overwhelmed, some of these companies, they didn't have the same regulations that the banks did? >> that's another piece of the story, exactly.
6:43 am
the banks, of course, are regulated as banks and typically banks are regulated more stringently than are other financial institutions. so oqwen being a mortgage servicing company is subject to a different regulatory regime than the banks and tends to be a little less strict than the bank regulations are. >> you said that the problems for companies like oqwen are not cogfind to them but have a broader rim -- rippel effect. explain what you mean? >> the greatest drag on full economic is continued uncertainty in the mortgage markets. 1-5th are deeply under water meaning they owe more than the homes are worth. and another 15th are close to being under water, subject to default risk. >> tends to keep the markets depressed relative to what they could be. so, a long as problems of the kind that oqwen is accused of having helped to propagate continue, we are still faced with this kind of ongoing drag to full economic recovery.
6:44 am
>> how many companies like oqwen are out there that have been problems? >> there are three prince -- three particularly large mortgage servicing companies that are non-bank, such companies such as oqwen. so, a you said, as you reported, yourself, oqwen is the fourth largest servicing organization in the country. the top 3 are banking institutions. below oqwen would be another banking institution and below that would be a couple of more servicing companies like oqwen that specialize strictly in mortgage servicing. >> robert hawket professor of law, thank you for coming on. we appreciate it. >> thank you for having me, mr. schuster. >> you are welcome. the canalal that could change the economic fortunate of one of latin american's poorest nations and it may be even the course of global history.
6:45 am
6:46 am
6:47 am
. dmrfrnling today, today. today nicaragua broke ground on what in rivala. it should be operational around 2020. it can help put an end to endemic poverty. but not all are convinced especially those being displaced from their homes. mayor cana sanchez reports. >> the. >> this ranch has been in the family for more than 100 years. now, torres fears she will lose everything, the new $50 billion it. >> there is great uncertainty. we feel bad and stressed because the government has talked about united states. it will not benefit us. family.
6:48 am
>> lucia says she will do everything she can to protect her property, like her other villagers who are worried they will be evicted. >> neither the government nor the mayor has told us where they paid. it's all up in the air and we don't have anyone to look out for us. >> the inter ocean yannick canal will cross nicaragua's great lake and affecting nearly communities. >> activists are going from one community to the next organizing people to take action. thousands of nicaraguans have been protesting for months. they say it was negotiated in secret and that the 50 year concession given to chinese-born businessmen is a sell-out. >> it's a project that will enrich companies and millionaires. it will not solve nicaragua's
6:49 am
problems. heritage. >> a project on this scale should have taken into account the views of the people. they there should have been a refer endsum. >> opposition is outgrowing the more people learn about it. the government says it must go ahead because it will create thousands of jobs. >> it says the canal has been a dream for many nicaragwans. but those who supported the project have questions. >> it could be a great investment in a short time, which would transform the benefits. i was enthusiastic, but now, i am worried about how the project is being managed. >> from her home, lucia can see the government's determination to go ahead. a police patrol is now stationed nearby to prevent people from disrukting construction. lucia says this won't deter her from her fight. march anna sanchez. this nick /*
6:50 am
nicruagua. >> sponsors get nervous t sports agent lee stiefr will join us when "real money returns by. >> in the middle of san francisco sits a bee farm with a dozen hives and up to a million bees, run by volunteers who plant flowers and fruit trees to attract and build the bee colony that produces honey for the neighborhood. now, this lot's owner and other interested land owners have an extra incentive for setting up community gardens, a new city tax break. someone paying $10,000 in taxes before would now just pay about $100, their property accessed as farmland instead of prime real estate.
6:51 am
another part of the sweet deal... urban farms must sell or donate produce to the community or act as a teaching site. but there are few empty lots in san francisco and advocates have no illusions about how many plots can sprout up. >> we're not necessarily naive to think that we're gonna be able to feed ourselves in a city like san francisco, but how much can we do? >> this urban farm serves those living below the poverty line. >> during the year it'll provide over 1000 pounds of food that gets given away to people who have the need for fresh organic produce who have otherwise no means to acquire that type of food. >> advocates of urban farming hope that their success will help inspire more cities to join the movement.
6:52 am
we sometimes for get professional athletes are human. we were reminded when a player for the ny jets honorabled two police officers killed on saturday. while many appreciation. >> home games, the new york jets, new york sports teams and their fans took a few quiet moments sunday to remember the fallen
6:53 am
officers, two men went a step further. new york giants coach tom cofflin wore a black strip on the left shoulder of his jacket as a show of support and nick mangold wore an nypd baseball hat. after the game, he was quoted as saying, thinking of their wives, their kids. it must be tough. i am just sad for them, sad for their families. i wanted to do something for them. mangold said he is thinking of auctioning off the hat to raise money for the two fallen officers. meanwhile, the new york yankees through late owner george steinbrenner's silver shoulder have pledged to pay for the he had cases of office ramos's two children, one in college and the other, just 13 right now. officer win jon lu had no children. there were those like espn recorder who seemed to use this occasion to criticize the on and
6:54 am
off field protest in recent weeks of the eric garner and police. he tweeted, when is the protest about the murder of two ny police officers? that tweet has been deleted. one new york jet sheldon richardson who in recent weeks has been critical of law enforcement in the michael brown and eric garner cases said this regarding the officers'murders: i am with the peaceful protests and stuff like that, defending your rights. >> that's not the way to go. murdering innocent cops. >> it is not uncommon for cause. we saw it recently when many players took stands against the shootings of eric garner and michael brown and while nobody will deny the players their first amendment rights to speak out, such actions may not sit well with team owners or sponsors. if you want to talk sports and money, you need to talk to a sports agent. to that end, there are sports agent did, super agents and then there is lee steinberg, the man with credited with inspiring tom
6:55 am
cruise's character in jerry mcguire. if you were advising an athlete and they wanted to take a stand on one of these issues, what would you tell them? >> i admire political consciousness and understanding of the fact that sports is not disconnected from society. so, i think it's entirely appropriate if there is a tnsunami, a murder, an earthquake in haiti, if it's domestic violence for athletes to use their high profile to express their point of view. a little more problematic when it comes to using the games because you can see where if you have athletes taking the position on abortion or gay rights or obamacare, when fans are actually looking for a respite from the day-to-day problems they face in the real world, it could create problems between teammates, alienation between different parts of the fan base, and
6:56 am
alienation and a fans. >> well, that individual decision that, i would imagine, you make a point of it being very different because the n.f.l., for example, as a whole, brings awareness of breast cancer with the players wearing pink but when an individual player makes a decision to wear a cap and weigh in on an issue that has been riling the nation, does that not only take away from the locker room, the issue of team, but does it perhaps endanger that player to get in some trouble with management because of the advertisers? >> well, i don't think they would get in to trouble because we appreciate the fact they have a free speech right. it's where they express it. so, to wear something in warm-up is fine. it's where it becomes a little more difficult is where it's on the field during a game or during introductions because
6:57 am
you've got fans from dissparate backgrounds, ethnicities, all sorts of different backgrounds and sports tends to be unifying force for people to all come together to root. so, it's instead of being unifying force, it can become divisive. so, i am all for someone who has a strong point of view about what happened in ferguson or what happened elsewhere going ahead and expressing that. >> that's their right. i think that you have to draw a line somewhere when it comes to the actual game, itself. >> do you draw the line in terms of emblems on a uniform or tape or messages? at a certain point, it certainly does become distracting for the fans and people who are watching at home. players. >> again, i think that this brings up the need for time, place, manner, distirpingsz that
6:58 am
really haven't been explored before. and when it comes to trying to make an impact on certain social issues that are generally accepted to give condolences, to memorialize someone, to go after a social condition that we all agree and there is consensus on, that's one thing, and i think sports using its power to help and not being disconnected is important. when it comes to very controversial issues, i think that there needs to be a place away probably from the playing that. >> social media? >> people can do it. >> facebook or twitter might be a good average. but you have represented more than 50 first round picks. if any one of them said i want to wear the same shirt lebron wore, i can't breathe. ease enough for him to win but
6:59 am
a first round pick looking for an opportunity on their team, would you advise them to wear that same t-shirt before a game? >> i might suggest a variety of other ways in terms of being at a rally. >> being on their social me i can't, expressing themselves in a whole other variety of ways which also would get a tension but wouldn't put them into that more controversial role. >> lee steinbrenner. thank you. good to have you 09 program. >> my pleasure. >> that is our show for today. i am david shuster in for ali velshi. on behalf of everybody here at "real money," thanks for watching. >>
7:00 am
>> i'm ali velshi, the news has become this thing where you talk to experts about people, and al jazeera has really tried to talk to people, about their stories. we are not meant to be your first choice for entertainment. choice for the news. >> new york's mayor calling for a pause in protests just days after two police officers are gunned down. why the shooter's family is saying the justice system failed him. >> federal prosecutors launch a civil rights investigation into the death of a milwaukee man. this after local officials indie officer who shot him during an altercation. >> the internet is back on line in north korea this morning. there are questions over who took i

10 Views

info Stream Only

Uploaded by TV Archive on